Talking Points
Reported by PLANADVISER Staff
A Record COLA Adjustment
Social Security and Supplemental Security Income beneficiaries will get an 8.7% cost of living increase to their benefits in 2023, the greatest given in 40 years. These changes affect approximately 70 million Americans. On average, Social Security benefits will be over $140 more per month. This jump follows the 5.9% increase beneficiaries saw this year.
Source: Social Security AdministrationMaximum Benefit/Plan Contribution Limits
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